The budget envisages growth of 12.5 percent and lays stress on education, health and agriculture. Taxes have been reduced to boost investment and production.

“The global economic slowdown is likely to have some impact on the national as well as state economies, necessitating some stimuli to investment and production. The price rise of essential commodities had also adversely affected the common men. I have therefore presented a tax-free budget without imposition of any new tax and reduction on taxes on certain items to give boost to investment and production in the state,” said Gogoi while presenting the budget.

The chief minister, who holds the finance portfolio, described the budget as “growth-oriented” aimed at all-round economical development of the state.

The budget had given tax concessions to the industries as per the Industrial and Investment policy for rapid industrialization of the state. It had accorded special incentives to the industries having mega status to promote employment generation.

The budget laid stress on education and allocated Rs.893.84 crore for the sector. It proposed to set up a Indian Institute of Management (IIM) in Assam through the public-private partnership mode. A slew of measures had been proposed to improve the elementary, primary and higher education in the state.

It proposed 21 new polytechnics in the state and a film archive to be named after late Bhupen Hazarika at a cost of Rs 1.5 crore.

The government proposed to reduce the rate of tax on auction sale of tea from the existing one per cent to 0.5 per cent keeping in mind the competition faced by the Guwahati Tea auction Centre (GTAC) and reduced the rate of tax on sale of tea through private arrangement from existing two per cent to one percent.

A number of new schemes has been announced for the health care sector and allocated Rs.584.82 crore.

In the agriculture sector, the budget allocated Rs.585.72 crore which includes schemes to assist farmers, agricultural credit through financial institutions and promotion of high value crops. The budget also proposed to set up a college on horticulture in Nalbari district.

For development of tourism, the chief minister said top priority will be given to create infrastructure and a tourist circuit of Holongpar-Lachit Maidam-Nambar will be set up soon.

The chief minister announced a special package of Rs.100 crore for all round development of flood-ravaged Dhemaji district.